Mubasher: Chinese shares ended Wednesday’s session with a steep decline battered by rising concerns about China’s economy, coupled with the continued fall in oil prices.
Shanghai Composite index (SSEC) declined by 1% to 2,976 points at close. In addition, CSE300 shed 1.5%. Meanwhile, Chinese oil and real estate shares were the biggest losers.
China announced yesterday that its economy grew by 6.8% in the fourth quarter last year, while the overall FY15 growth reached 6.9%, which is lower than the 7%official target.
Brent futures fell by 1.9% to $28.21 per barrel. US crude declined by 3% to $27.61 as well.
